"Yes, Mr. Zhang has been thinking of a way. ”

Lu Qi began to explain the method of profit according to Zhang Yida's rhetoric, plus some of his own understanding:

"In the bicycle business, if you want to make a profit, you must either increase the frequency of riding or increase the price of riding.

But at present, we have not monopolized the entire shared bicycle market, and raising the price of riding must be pushing users into the arms of opponents;

If you want to increase the frequency of riding, Zhonghe Group, as well as partners such as Pate Holding Group and Ruixiang Group will help you later.

We plan to create a "joint membership" in the form of an alliance, where users will give them free cycling time for every time they spend money on other companies.

A part of the profits received by the partners will also be returned to Huimin Travel to replace the losses caused by free riding.

With this move, we will also continue to squeeze the market share of our competitors. ”

Zhang Ying and Zhu Xiaohu from Jingwei Global usually wear a pair of pants, and they also came out to help wave the flag at this time, "The so-called joint members, I am not very optimistic.

Because Didi currently occupies the vast majority of the market share of the online car-hailing industry, they can also use free cycling to boost their online car-hailing business.

In the case of Harrow bikes, there was Ahri standing behind them. The ecology is richer than ours.

Ahri can even form an alliance with Didi! If we use this move, it is very likely that we will not hurt our opponents, but we will hurt ourselves!"

Zhang Ying's words were unanimously agreed by other investors.

Ahri is indeed very powerful in the industry, and the average small company can't afford to sneeze.

Although Huimin Travel claims to be valued at $6 billion, it is as weak as a baby compared to Ahri, who has a market value of $260 billion at this time.

Ahri not only has a market value, but also has the tentacles of its subsidiaries involved in all aspects of the Internet segment.

For example: finance, video software, music software, food delivery software, movie ticket sales websites......

Huimin Travel plays with others, what kind of "joint membership" to launch, if Ahri wants to do it, he can definitely come up with more tricks, more awesome and more comprehensive membership rights and interests than you.

Who is grabbing whose market is not certain?

Ren Yu coughed twice, and glanced at the investors present a few times with an unhappy expression.

You guys slapped Ahri on the back like that, did you ask us penguins?

"If Ahri mobilizes its industrial resources and uses ecology to deal with Huimin travel, the penguins will definitely not stand idly by!"

Ren Yu's voice was not high, but the investors present heard it clearly.

Penguin: Is this going to benefit the people to travel to the end?

Huimin Travel's equity is extremely dispersed, with more than 20 venture capital shareholders large and small.

Except for Zhang Yida, who holds 29.78% of the shares, no investment institution holds more than 10% of the shares.

Black Shirt Capital holds 8.76% of the shares, making it the second largest shareholder. Then it was the turn of Penguin, which held 6.4% of the shares, and was the third largest shareholder of Huimin Travel.

Ren Yu's high-profile voice made everyone realize that there was still a great god like a penguin standing on their side.

Penguin is the only giant in China that can compete with Ahri, and its penetration in various Internet segments is no weaker than Ahri.

"Mr. Ren, do you mean that Penguin's member companies have also joined the "joint membership" launched by Huimin Travel?" asked Zhang Sanshi of Gaoling Capital.

"What's wrong? Can't you?" Ren Yu smiled.

"Yes, that's great!" said Tong Shijie of GGV Capital.

"If Penguin wants to join, then this affiliate can do it!

Penguin + Huimin Travel + Ruixiang Group + Zhonghe Group + Pate Holding Group + Ruixin Group and other companies are not weaker than Ahri + Didi.

Even our side won a little bit!"

Gan Renping of Qiming Venture Capital also expressed his support.

"However, Penguin also has a request to exchange our equity in Huimin Travel to Zhonghe Group. ”

After speaking, Ren Yu looked at Lu Qi with a smile.

They have not discussed it internally, and there is still a long way to go for Huimin Travel to make a profit.

It is definitely more beneficial for Penguin to replace Penguin's equity in Huimin Travel with Zhonghe Group.

If the future development prospects of Huimin Travel are uncertain, Penguin's investment will not sink.

Because there are also two safety mats, Doudodo and Jitter. Especially in Pindodo, the inside of the penguins is quite optimistic.

Although WeChat users were harassed by all kinds of magical marketing, including Zhang Dalong, he also came to Pony again and again to complain.

But the penguin has not wavered at all, and it is definitely a fight to the end!

Penguins all asked to merge their shares into Zhonghe Group, and other investors did not follow to the end.

Zhang Quan of Futukang said very strongly: "Either all the shares will be merged into Zhonghe Group, or not a single share will be merged."

If Mr. Zhang Yida only sold his own shares, it would be absolutely impossible.

Our investors have the right of first refusal to sell, and the founders can only be ranked last. ”

Since the end of the large order of 3 million bicycles for Huimin Travel, Futukang has not received a second order so far.

Zhang Quan was also under a lot of pressure, and his superiors urged him more than once to get some orders for the group.

He also went to CEO Huang Xiaofeng, but the other party told him that there was no new demand for advertising in the near future.

It's useless for him to wear out his mouth, Huang Xiaofeng just doesn't put a new bicycle.

The other party also gave him a piece of advice: just be a good shareholder, and you will definitely give Futukang a satisfactory return in the future.

The matter of bicycle launch does not bother the shareholders, and the management has its own plans and arrangements.

Zhang Quan was so angry when he heard that! Although Fu Tukang only holds 1% of the shares, he is also a shareholder!

These mainland boys disrespected themselves so much, he turned around and complained to the company's top management.

However, the higher-ups only appeased him twice, and there was no fart action.

Now that he had seized the opportunity to take it, he quickly jumped out and stepped on it a few times.

Zhang Quan's words undoubtedly expressed the thoughts of most of the investors present.

How big is Huimin travel? How good it is to merge into Zhonghe Group. There are many businesses, the east is not bright, the west is bright, and the safety factor is higher.

However, most investors are not as aggressive as Zhang Quan, and they acted as bad people at this time.

I think Chairman Zhang Yida should also be willing to merge as a whole. Didn't he say that earlier?

I guess he has concerns and worries that we won't approve of it!"

The others understood, and also began to say: "Yes, yes, yes, Zhang Dong has misunderstood us, if the whole merge, we will definitely have no opinion!"

Lei Dongming and Lan Lan glanced at each other, there should be only two of them on Zhang Yida's side, and other institutions have attempts.

Xu Xiaoming didn't speak, he didn't want to merge as a whole in his heart. In this way, Zhen Fund's shareholding in Zhonghe Group can also be increased.

But he knew that Zhang Yida should not want the whole merger in his heart, at least not now.

And if he only injects his personal stake in Huimin Travel, Zhen Fund's equity in Zhonghe will be diluted.

Seeing that Zhang Yida didn't show up today, he entrusted Lu Qi with full authority to handle the merger, so he knew that the other party was deliberately evasive, so as not to hurt each other's feelings.

Shen Beipeng is also considering that if the overall merger is carried out, it will also be beneficial to the black shirt capital.

But he has cooperated a lot with Zhang Yida, and if there is some unpleasantness because of this incident, it will inevitably be worth the loss.

After all, the black shirt has placed a heavy bet on Zhang Yida, and many companies are still in the development stage and have not yet been listed.

If you are unhappy with the founder at this link, you will not be a mature and wise venture capitalist.

The atmosphere suddenly became awkward, the neutral Zhenge and the black shirt did not speak, and the Huayi Capital and Ruixiang Industrial Investment Fund, which favored Zhang Yida, did not speak.

Zhang Quan and others were shouting that they wanted to merge as a whole, how to do it.

Lu Qi sighed, knowing that this matter was not easy.

Forget it, let's get further instructions from Mr. Zhang before making plans!

"The opinions of all shareholders, I will truthfully report to Mr. Zhang. Let's put this topic aside for now. ”

Then, Lu Qi looked at Huang Xiaofeng again and gestured a look.

Huang Xiaofeng said with a smile: "Today, all shareholders happen to be there, and we just have a successful conclusion to the B+ round of financing VAM agreement." ”

After speaking, Huang Xiaofeng looked at the B+ round of investment institutions: SoftBank, GIC, Warburg Pincus, Silver Lake Capital and other four parties.

He said with a smile: "Fourth, the test results of the third-party organization have also come out, and Huimin Travel has occupied more than 80% of the market share of the whole industry in terms of the number of bicycles and the number of orders." ”

The representative of SoftBank nodded, "Mr. Huang, don't worry, SoftBank pays the most attention to business reputation, and we recognize the result of this bet." ”

Huang Xiaofeng laughed, "We absolutely trust SoftBank's credibility.

It's been two months since the gambling ended, and we completed the equity delivery as soon as possible, so that we can use it to motivate employees. ”

"This is as it should be," said a SoftBank representative, "and SoftBank invested $250 million in the $500 million round of B+."

Therefore, for this $120 million gambling reward, we at SoftBank can recognize a share of $60 million.

Converted into shares, it is 1% of the shares of Huimin Travel, and we handed over the shares to the management within a week. ”

Huang Xiaofeng shook his head with a smile, "What is signed in the VAM agreement is the number of shares, not the amount of cash.

That stake is now more than $120 million, 24 percent of the shares held by the four investment institutions. ”

The investment representatives of the four institutions looked a little ugly, and the difference was huge.

The total shareholding of the four parties also holds 10.95% of the equity of Huimin Travel, and losing 24% is equivalent to transferring 2.63% of the shares to the management of Huimin Travel for free.

That's $157.8 million at $6 billion!

Actually, it's not all, the $6 billion valuation was the valuation of half a year ago.

Now the valuation of Huimin Travel is about $8 billion, that is, it has lost $210.4 million!

If you lose, you lose, and it's useless to splash and roll.

Witnessed by all shareholders, SoftBank and four other investment institutions agreed to fulfill the VAM contract.

Within a week, the equity was handed over to the management of Huimin Travel.

Other investment institutions also watched the excitement, and SoftBank and other four investment institutions lost the bet, what does it matter to them.

However, there are still indirect benefits for them, such a large amount of betting bonuses, except for Zhang Yida to take a part, the rest must be filled into the option pool.

This is very effective in stabilizing the management of Huimin Travel and allowing them to maintain their combat effectiveness.

SoftBank can also be regarded as doing a good thing for other investment institutions, and paying for all shareholders with their own heart.

Originally, the decline of the option pool needed to be supplemented by all shareholders. But SoftBank came to such a time, and there was no need to replenish it in a short time.

After the meeting ended, Lu Qi called Zhang Yida to reflect the meeting.

"Forget it, Zhonghe Group should not consider Huimin Travel for the time being, let's talk about it later!" Zhang Yida replied.

This is the disadvantage of having more shareholders, the more people there are, the more eyes there are, and many things are not easy to do.

"Don't spend time on this, your focus is on the development and application of artificial intelligence. ”

Lu Qi said happily: "Okay, you can finally let it go!"

He also doesn't want to continue to waste time on industry integration, and his favorite thing is to lead technology research and development, as well as product promotion and operation.

Huang Xiaofeng also called for instructions, and he said: "Mr. Zhang, we won 2.63% of the equity this time, how to distribute it?"

"Divide it into 10 shares, 5 shares into the option pool, you take 1 share, and 1 share for other management points, I just want 3 shares. ”

Huang Xiaofeng said: "Mr. Zhang, you take a little little! The B+ round of financing also includes 1 billion debt financing, of which you have secured 550 million US dollars with your personal assets.

To be able to complete the VAM, the 1 billion debt financing is very important. It bought us a critical time and crushed the rest of our competitors in one fell swoop.

I don't think it's too much for you to take 8 shares, our management will take 1 share, and the remaining 1 share will be filled into the option pool. ”

Zhang Yida said with a smile: "Major shareholders, it is inevitable to sacrifice a little more." You don't have to excuse yourself, just do what I arranged.

You executives have worked hard, and you should be rewarded. You joined Huimin Travel relatively late, and you didn't get many options, so you will take more this time.

The option pool, including those that have already been issued, adds up to only 3.5% of the total shares. I have to add it, let's fill in this part of the options first!

When Huimin Travel is profitable, let all shareholders inject another round of option pools. ”

Zhang Yida's personal shareholding in Huimin Travel is now 29.78%.

If you get 30% of the gambling reward, the shareholding ratio will break through the 30% mark, reaching 30.57% in one fell swoop.

For Zhang Yida, it doesn't make much difference if it's more or less. Moreover, the company's profits are still far away, and the shares are not easy to realize.

It's better to encourage the management, and it can be regarded as stabilizing the morale of the military.

Huang Xiaofeng said happily: "Then thank you Mr. Zhang for your generous gesture! Haha, thank Mr. Zhang on behalf of all the staff." ”

Hanging up the phone, Huang Xiaofeng began to calculate his shareholding ratio.

He has obtained 0.7% of the options granted by the company, accounting for 20% of the entire option pool, which is the person who has received the most options in the company.

Combined with the 10% of the gambling bonus that can be obtained this time, the shareholding ratio adds up to 0.963%, almost exceeding 1%.

And the 0.263% granted this time is a share, not an option, and there is no need to spend money to buy it.

The 0.7% option, he has to spend money to buy in order to become a real share, in terms of actual value, the option is far inferior to the real share.

With a 0.7% option, he had to shell out more than $20 million to convert it into $56 million worth of equity.

The key Huimin Travel has not yet been listed, and the realization channel is single, so he does not dare to exercise his rights now.

As for the 0.263 stake, it is also worth more than $20 million.

Combined, they are both worth forty or five thousand dollars!

He has worked in Huimin Travel for two years, which can be regarded as a great gain. And that's not even counting his multi-million dollar annual salary and the day-to-day expenses of going through the company's bills.

Of course, if Huimin Travel collapses, his equity and options will be worthless.

Huang Xiaofeng is still very satisfied with his current work and treatment, and the only regret is that he joined Huimin Travel too late and did not get the title of co-founder.

He is very envious of Lin Zhenyang, Fan Hongyang, and their partners of Zhang Yida, and his net worth is only a fraction of that of others.

Huang Xiaofeng packed up his mood and prepared to go home, he wanted to prepare a surprise for his wife! Celebrate the huge management award he received today!